The Enforcement Directorate on Thursday conducted searches in multiple states as part of an online gaming-linked alleged foreign exchange violation case against a Delhi-based company and its related entities, officials said.
They said locations of about 14 people and companies in Delhi, Gujarat, Madhya Pradesh (Indore) and Jammu and Kashmir (Srinagar) were raided in connection with the case against Zygarde Technologies Pvt. Ltd.
The action was initiated under the provisions of the Foreign Exchange Management Act (FEMA), they said.
The company could not be contacted for a comment on the ED action against them.
Officials said a probe was launched by the central agency on the basis of inputs that the company (Zygarde Technologies) allegedly "collected" funds from some individuals through payment aggregators for online gaming activities.
The funds were allegedly routed through various entities, including Happy Easygo, and subsequently remitted abroad under the guise of wallet recharges and airline related transactions in contravention of the FEMA, ED officials alleged.
The Union government banned online money gaming in India in August 2025.
Published on May 14, 2026